Why do you need a mastermind group?

Years ago, I met a client who struck me as the most ambitious person I’d ever come across.

Let’s call her Emma.

Emma was running a small service-based business. It was a very unique product, and she was already attracting the right people.

In less than a year, she had gained a sizeable number of clients and was in the process of hiring.

What struck me even further was that Emma was REALLY passionate. She could go on and on about her business and life plans for hours.

I thought to myself just how successful she would be in a few years to come.

And even better? She believed she had the right tools to chase after her dreams. If you were to ask her about her 5 year, 10 year plans? You would be MIND BLOWN!

But there was a problem…

She felt lonely in her business. She believed that her struggles were really unique. And she had no one to run to for proper advice. She didn’t have a support system that understood her or knew how to run a business.

Emma had been procrastinating on some major business decisions for so long that she missed out on a ton of opportunities.

And despite all these dreams she had for her business, Emma didn’t have a clear strategy and plan in place to achieve these goals. 

In my mind’s eye, the solution was pretty straightforward.

Why?

I’m a business owner, I get it!

I, too, want to grow my business, be successful, and make more money. And, I, too, want to be guided and supported in making difficult business decisions.

There are times when my motivation levels are low and I need support from like-minded individuals. I find myself needing clarity on where my business is headed. I want to feel seen, I want to feel safe. And I want to be part of a community that can help me with that.

If there’s one thing that has provided a single solution to all these problems, it’s a mastermind group.

6 reasons why a mastermind group is so important

1. Generate new ideas

How many times have you felt stuck in your business?

You want to do more, but you feel as though you’ve exhausted your ideas.

It’s normal, and it happens to the best of us.

With a mastermind group, you can easily pick other people’s brains. They will freely share their ideas and information.

A good mastermind group has problem solvers. People who want to see you succeed almost as much as you do. They want to be seen as helpful, and they want to add value and support others.

With a mastermind group, you can easily gain fresh perspective and fresh ideas to take your business to the next level. You are guaranteed to make better choices with a whole team of experts at your back.

2. Get expert advice

The average person makes 35,000 choices a day. That’s about 2,000 decisions per hour. And I can almost guess that business owners make more than double of that.

If you’ve been around long enough, you’ve probably heard me wonder at this statistic:  69% of business owners admit to taking advice from friends and family who have never been in business before.

And most of them probably regret it sooner or later.

Mastermind groups are a great place to seek the right kind of advice. Most members are qualified and experienced. They have probably faced the same problem at one point or the other.

And they will willingly share this advice with you.

A mastermind group is like a sounding board. With members of different skill sets, you’re offered numerous solutions, and you get to decide which direction to take.

You’ll definitely find it easier to make small and big decisions.

3. Generate more leads

It’s in almost every business owner’s dream to grow.

We want to expand our businesses, employ more people, make more money, and probably let the business run itself without our daily input.

But sometimes, it’s not as easy as it seems.

Generating new leads can be really tricky. You may find yourself attracting the wrong target audience, or none at all.

With the support and accountability offered by a mastermind group, you’re almost guaranteed to generate more leads.

Why? You’ll work harder, make better decisions, and feel more confident. Ultimately, you’ll become better at what you do and generate much more quality leads.

4. Develop a sense of community

“If you want to go fast, go alone. If you want to go far, go together.”

Research shows that a support system has advantages like higher levels of well-being, better coping skills, and a longer, healthier life.

Being a business owner is like riding a rollercoaster. There are constant ups and downs. And in each of these points, having a support system is important.

A mastermind group gives you a sense of belonging. You immediately become a part of a tribe.

You can easily build honest relationships and feel valued. All the feelings of loneliness in business slowly start to disappear.

And you know what they say – when you feel better, you do better.

5. Solve problems

Problems in a business are inevitable, and that sucks!

In fact, problems in life are inevitable.

But like someone once said, it doesn’t matter how many times you fail. You only have to be right once.

Failures are lessons. Because once you fail in one area, you’re far less likely to repeat the problem.

Mastermind groups can help you to shift perspectives and turn a problem into a blessing.

And even when that isn’t possible, they’ll give you solutions. They’ll change your mindset to move from the problem towards the solutions.

6. Become accountable

Have you heard the story of the four people named Everybody, Somebody, Anybody, and Nobody?

There was an important job to be done and Everybody was asked to do it. Everybody was sure Somebody would do it. Anybody could have done it, but Nobody did it. 

Somebody got angry about that, because it was Everybody’s job. Everybody thought Anybody could do it but Nobody realized that Everybody wouldn’t do it. 

It ended up that Everybody blamed Somebody when Nobody did what Anybody could have done.

Accountability is necessary, no matter how old you are. How many times have you said that you’ll do something and ended up not doing it at all? How many times have you procrastinated the things that you are sure are the path to your success?

At a mastermind group, you’ll be held accountable for all the things that you say you’ll do.

At the end of each session, everybody goes away with an ‘action’ that they need to work on for their business. And when there are people watching out for you and rooting for you, you are bound to succeed.

Conclusion

Business owners are much more similar than we think. We face the same problems. And because of this, we need one another. We need a support group to guide us through.

That’s where mastermind groups come in. In summary, the 6 reasons why a mastermind group is important are:

1. Generate new ideas
2. Get expert advice
3. Generate more leads
4. Develop a sense of community
5. Solve problems
6. Become more accountable

We would love to have you join us at our next FREE Mastermind group taster for a practical session! If you are interested, book here, or get in touch with us for any other questions you might have.